In a recent announcement, American Bitcoin, a mining and treasury firm with ties to the Trump family, revealed the deployment of nearly 11,300 new bitcoin mining rigs at its Drumheller site. This development led to a 12% surge in the company's share price, reaching $1.38. The newly added miners are now fully operational at the Alberta, Canada facility, bringing the total number of ASICs to approximately 89,242. These additional rigs contribute an extra 3.05 exahash per second to the company's current operational capacity, with an efficiency rating of 13.5 joules per terahash.
This high efficiency is crucial as it reduces electricity costs per coin, enabling the company to maintain profitability despite the increasing network difficulty in bitcoin mining. According to the company, expanding its hashrate is a key strategy to strengthen its position in the bitcoin market. Eric Trump, co-founder and chief strategy officer at American Bitcoin, stated that the swift deployment of these miners at Drumheller reflects the company's commitment to disciplined capital allocation, efficient growth, and leadership in the bitcoin space.
The addition of these new units marks the completion of a fleet expansion initially announced on March 3, 2026, demonstrating the company's resolve to focus on bitcoin mining operations. Notably, American Bitcoin has been expanding its bitcoin holdings, raising its BTC reserves to 6,899 by March 18, and further increasing it to 7,000 by March 30, making it the 16th-largest bitcoin holder and surpassing Mike Novogratz's Galaxy Digital.